Choi elected as World Bank executive director
Choi Hee-nam
Choi Hee-nam, the former deputy finance minister of international affairs, was elected as an executive director of the World Bank Group, the Ministry of Strategy and Finance said Friday.
“Working with the World Bank, the International Monetary Fund (IMF) and the G20 as well as heading the international financial policy bureau at the ministry, Choi has vast experience and knowledge in international finance,” the ministry said in a media release.
His predecessor Eun Sung-soo quit the post to serve as CEO of the Korea Investment Corporation, the country’s sovereign wealth fund. Choi’s term will end in October.
“As Choi will be serving as an executive director at the World Bank Group, it is expected to help Korea play a leading role in major issues in international finance and development,” the ministry announced.
The World Bank Group is composed of five organizations: the International Bank for Reconstruction and Development (IBRD), the International Development Association (IDA), the International Finance Corporation (IFC), the Multilateral Investment Guarantee Agency (MIGA), and the International Center for Settlement of Investment Disputes (ICSID). It has 25 executive directors and one president.